Once you have purchased your new home there are lots of things you are anxious to buy -  lawnmower, furniture, appliances.  But wait!  Think carefully before you make any big purchases, especially if it involves taking on more debt. Your mortgage payments should be your top priority.  But you also can't get behind on your utility bills.  You also wouldn't want to get behind on your car payments.   There are a lot of credit offers out ther you receive as a new homewoner, it is easy to get overextended quickly.  Create a household budget, set your goals, establish your priorities and track your spending.  This will lead you to a much happier and enjoyable life.